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Abu Dhabi property sales surge, as the world’s millionaires flock to get a piece of the real estate market. The UAE property market braces for a record-breaking year as investor interest for residences in the middle and elite segments continue to rise.
The growth of the residential property market in Abu Dhabi has exceeded expectations in H1 2023. During this period, the total amount of property transactions in the UAE capital rose by 94.1% year-on-year, driven by a 160.4% increase in off-plan deals.
In Abu Dhabi, the average villa prices have started to increase at a faster rate in annual calculation. Sales prices for villas rose by about 6%.
The growth rate for apartments has decelerated during the second quarter of 2023, however sales prices for completed apartments demonstrated an average 1% annual increase during this period.
The UAE property market attracts interested investors from all corners of the world, and in both the top-end and mid-market segments. The real estate in the country is in high demand among foreigners from Asia and Europe. Growing investor activity in these segments is also predicted in the second half of 2023.
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